You want to buy a new car in ﬁve years.You want to have saved $25,000 by then.You can invest $4,000 at the end of each of the next ﬁve years at an interest rate of 6% compounded annually.Will you have enough money at the end of the ﬁfth year? Use appendix Table 1, Table 2, Table 3 and Table 4.

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The Answer of You want to buy a new car in ﬁve years.You want to have saved $25,000 by then.You can invest $4,000 at the end of each of the next ﬁve years at an interest rate of 6% compounded annually.Will you have enough money at the end of the ﬁfth year? Use appendix Table 1, Table 2, Table 3 and Table 4.

You Want to Buy a New Car in ﬁVe Years